Silver Purity Ranges from 99.9% Fine to 90% Coin

The purity of silver is typically expressed as fineness, indicating the percentage of pure silver in an alloy. For example, 999 fineness means 999 parts out of 1000 are pure silver. Silver purity depends on its intended use:

Fine silver (99.9% Pure) is the purest form available to consumers and contains minimal impurities.

Sterling silver (92.5% Pure), commonly used in jewellery, contains 7.5% other metals, usually copper.

Britannia silver (95.8% Pure) was introduced in Britain as a higher standard than sterling silver and contains 4.2% other metals.

Coin silver (90% Pure) contains 10% copper and gets its name from its historical use in coins.

The daily silver rate is just a benchmark, with the final showroom price being higher due to making charges and GST.